The ban on digital asset mining introduced by China in September 2021 gave a good impetus to the development of the same industry in another Asian country - Thailand.
So, recently, the international news channel Al Jazeera reported that after China's actions restricting the rights of crypto-entrepreneurs, the development of the economic sector has noticeably accelerated in Thailand.
In this context, it is worth noting that since the fall, the number of retail mining supporters and farms has increased in Thailand, which brings a relatively stable income not only to the extent of the poor population of the country but also to local large enterprises.
It should be emphasized that the Thai media has repeatedly indicated that some bitcoin enthusiasts, who are citizens of a middle-class country, have taken up cryptocurrency mining. One of the supporters of the mining activity gave an interview in which he noted that he bought equipment from Chinese sellers for $ 30,000, and after three months he fully paid off all the costs, later starting to receive “net profit”.
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It is worth focusing the attention of readers on the fact that today in Thailand digital assets are very popular in gambling, players use cryptocurrency in bitcoin casinos. For this kind of entertainment, residents are happy to replenish their electronic wallets.
Also in Thailand, the business of selling devices for cryptocurrency mining has expanded. If initially most of the devices were purchased directly from China, today local entrepreneurs have expanded the range of goods sold in their stores.
By the way, Government institutions have also begun to actively show their interest in cryptocurrency, as evidenced by the purchase of more than half (51%) of the shares of BitKub, the country's largest cryptocurrency exchange, by the oldest bank in Thailand, Commercial Bank. It is noted that the transaction was carried out almost immediately after the introduction of the crypto-ban in China.